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PennantPark (PNNT) Surpasses Market Returns: Some Facts Worth Knowing
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The most recent trading session ended with PennantPark (PNNT - Free Report) standing at $6.50, reflecting a +0.31% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.18%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.3%.
The business development company's shares have seen an increase of 4.18% over the last month, not keeping up with the Finance sector's gain of 4.21% and outstripping the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company's upcoming EPS is projected at $0.22, signifying a 57.14% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.45 million, up 15.61% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.56% higher. PennantPark presently features a Zacks Rank of #2 (Buy).
With respect to valuation, PennantPark is currently being traded at a Forward P/E ratio of 7.27. This valuation marks a premium compared to its industry's average Forward P/E of 7.15.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.
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PennantPark (PNNT) Surpasses Market Returns: Some Facts Worth Knowing
The most recent trading session ended with PennantPark (PNNT - Free Report) standing at $6.50, reflecting a +0.31% shift from the previouse trading day's closing. The stock outperformed the S&P 500, which registered a daily gain of 0.18%. Meanwhile, the Dow gained 0.1%, and the Nasdaq, a tech-heavy index, added 0.3%.
The business development company's shares have seen an increase of 4.18% over the last month, not keeping up with the Finance sector's gain of 4.21% and outstripping the S&P 500's gain of 3.08%.
Market participants will be closely following the financial results of PennantPark in its upcoming release. The company plans to announce its earnings on November 15, 2023. The company's upcoming EPS is projected at $0.22, signifying a 57.14% increase compared to the same quarter of the previous year. Meanwhile, the Zacks Consensus Estimate for revenue is projecting net sales of $33.45 million, up 15.61% from the year-ago period.
Additionally, investors should keep an eye on any recent revisions to analyst forecasts for PennantPark. These revisions typically reflect the latest short-term business trends, which can change frequently. Hence, positive alterations in estimates signify analyst optimism regarding the company's business and profitability.
Our research shows that these estimate changes are directly correlated with near-term stock prices. To exploit this, we've formed the Zacks Rank, a quantitative model that includes these estimate changes and presents a viable rating system.
The Zacks Rank system, ranging from #1 (Strong Buy) to #5 (Strong Sell), possesses a remarkable history of outdoing, externally audited, with #1 stocks returning an average annual gain of +25% since 1988. Within the past 30 days, our consensus EPS projection has moved 0.56% higher. PennantPark presently features a Zacks Rank of #2 (Buy).
With respect to valuation, PennantPark is currently being traded at a Forward P/E ratio of 7.27. This valuation marks a premium compared to its industry's average Forward P/E of 7.15.
The Financial - SBIC & Commercial Industry industry is part of the Finance sector. This group has a Zacks Industry Rank of 31, putting it in the top 13% of all 250+ industries.
The Zacks Industry Rank assesses the vigor of our specific industry groups by computing the average Zacks Rank of the individual stocks incorporated in the groups. Our research shows that the top 50% rated industries outperform the bottom half by a factor of 2 to 1.
You can find more information on all of these metrics, and much more, on Zacks.com.